ISBA Mutual declares $1.9 million in premium dividends
The Board of Directors of ISBA Mutual Insurance voted at their December 2015 meeting to declare a $1.9 million dividend.
"We, at ISBA Mutual Insurance Company, are so proud of the progress and advancements (free policy enhancements, technology improvements and service gains) that the officers, staff and board have made this year,” said Chairman of the Board, John G. Locallo, "We are once again pleased to report a further dividend for all our member lawyers. After all, this is your Mutual and it’s a great feeling as Chairman to announce a return of your money. Have a great year!"
Efficient operations, careful risk selection and successful investment management allowed ISBA Mutual to return $18.3 million in premiums since 2000. Lawyers and law firms insured by ISBA Mutual received a dividend for the past 11 consecutive years.
ISBA Mutual provides malpractice insurance to Illinois lawyers and is available exclusively to members of the Illinois State Bar Association.
Member Comments (1)
all that this means is that the premiums are too high initially. for eleven years, the isba mutual has returned about 10% of the premiums in feb. of each year. this year, the plan is to send the money close to the renewal date.
why bother?
why not just reduce the premiums 10% and let us keep our money instead of the company investing it for us at no return to us for a year?